Money and Computing

The 2016 real median earnings of men ($51,640) and women ($41,554) who worked full- time, year-round were not statistically different from their respective 2015 medians. The female-to-male earnings ratio was 0.805, an increase of 1.1 percent from the 2015 ratio of 0.796. This is the first time the female-to-male earnings ratio has experienced an annual increase since 2007.Between 2015 and 2016, the total number of people with earnings increased by about 1.2 million. In addition, the total number of full-time, year-round workers increased by 2.2 million between 2015 and 2016, suggesting a shift from part-year, part-time work status to full-time, year-round work status. more »

When shopping online, consumers engage in a type of social learning by which they become informed from the decisions of others. For example, you’re probably more likely to purchase a book at the top of the New York Times' best-sellers list or buy an app that’s been downloaded millions of times. But observing other people’s choices is only a part of social learning. The other is noting the resulting outcomes through mechanisms like online star ratings. But how people interpret — or fail to interpret — this data is affecting their decision-making in a negative way.  more »

Through the years the nation gave increasing emphasis to Labor Day. The first governmental recognition came through municipal ordinances passed during 1885 and 1886. From these, a movement developed to secure state legislation. The first state bill was introduced into the New York legislature, but the first to become law was passed by Oregon on February 21, 1887. During the year four more states — Colorado, Massachusetts, New Jersey, and New York — created the Labor Day holiday by legislative enactment. By the end of the decade Connecticut, Nebraska, and Pennsylvania had followed suit. By 1894, 23 other states had adopted the holiday in honor of workers, and on June 28 of that year, Congress passed an act making the first Monday in September of each year a legal holiday in the District of Columbia and the territories. more »

Because of the reforms that strengthened our financial system, and with support from monetary and other policies, credit is available on good terms, and lending has advanced broadly in line with economic activity in recent years, contributing to today's strong economy. At the same time, reforms have boosted the resilience of the financial system. Banks are safer. The risk of runs owing to maturity transformation is reduced. Efforts to enhance the resolvability of systemic firms have promoted market discipline and reduced the problem of too-big-to-fail. And a system is in place to more effectively monitor and address risks that arise outside the regulatory perimeter. Nonetheless, the scope and complexity of financial regulatory reforms demand that policymakers and researchers remain alert to both areas for improvement and unexpected side effects. more »